Zurich - 04 Apr 2012
PERILS AG has today disclosed its second loss estimate for windstorm Andrea which occurred from 4 – 5 January 2012 and affected mainly the Benelux states, France Germany, Switzerland and the United Kingdom.
The revised estimate of the property insurance market loss is EUR 309 million. This compares to the first loss estimate of EUR 267 million which was issued by PERILS on 15 February 2012.
PERILS’ loss estimates represent the market-wide insured property loss and are based on ultimate gross loss estimates as reported by insurance companies writing property business in the affected territories. The estimates exclude losses indemnified by government schemes such as CatNat in France.
In line with the PERILS loss reporting schedule, the third loss estimate for Andrea will be published on 4 July 2012. For subscribers to the PERILS database, the third loss estimate, plus any further loss estimates, will be provided in full resolution, i.e. by CRESTA zone and by the property sub-lines Residential, Commercial, Industrial and Agricultural.